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Meyer Turku widens scope of planned lay offs

Details: Written by Kari Reinikainen Kari Reinikainen; Category: More News More News; Published: 28 April 2020 28 April 2020

The Meyer Turku shipyard said it has widened the scope of planned lay offs as the effects of the coronavirus crisis become more pronounced.

The Finnish shipbuilder had started negotiations about temporary layoffs in the middle of March. “Since then, the corona virus pandemic influenced market situation of the shipyard’s customers’ is coming visible and is now forcing Meyer Turku to change the scope of the negotiations,”the shipbuilder said in a statement.

Negotiations are a requirement of the Finnish employment legislation.

“These negotiations will include the permanent layoff of 450 people and other 900 are affected by other measures. These include temporary layoffs of different length, work time adjustments and other arrangements. All personnel groups and levels are part of the negotiations,” Meyer Turku said.

Norwegian Cruise Line Holdings Ltd. announces extension of suspension of voyages

Details: Written by Teijo Niemelä Teijo Niemelä; Category: More News More News; Published: 26 April 2020 26 April 2020

Norwegian Cruise Line Holdings Ltd., which operates the Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises brands, has announced an extension of its previously announced suspension of global cruise voyages to include voyages embarking between May 11 and June 30, 2020 for its three cruise brands. The voyage suspension contributes to global efforts to contain the spread of COVID-19. The Company will continue to work in tandem with the U.S. Centers for Disease Control and Prevention (CDC), the federal government and global public health authorities to take all necessary precautions to ensure the health, safety and security of guests, crew and the communities visited.

“We are committed to taking all appropriate actions to combat the spread of COVID-19 and as such, have extended our global voyage suspension through June 30. We continue to work closely and in partnership with the U.S.CDC, global public health authorities and local, state and federal governments to build upon our already rigorous health and safety protocols to ensure that our brands are ready to safely resume operations with these new protocols in place,” said Frank Del Rio, president and chief executive officer of Norwegian Cruise Line Holdings Ltd. “Our teams are working around the clock to do what is right by our loyal guests and valued travel partners and we greatly appreciate their understanding as we continue to adapt to the ever-evolving global health environment.”

Guests who are currently booked on voyages with embarkation dates between May 11 and June 30, 2020 on Norwegian Cruise Line, Oceania Cruises or Regent Seven Seas Cruises are asked to contact their travel agent or the cruise line for more information.

CMV unveils Amy Johnson’s 2021 itineraries

Details: Written by Kari Reinikainen Kari Reinikainen; Category: More News More News; Published: 23 April 2020 23 April 2020

Cruise & Maritime Voyages, the UK based destinational cruise operator, has unveiled the 2021 itineraries of Amy Johnson, one of the two ships it acquired from P&O Cruises Australia last year.

Following a maiden voyage from Singapore to London in April, the ship will make a series of cruises from London Tilbury to Iceland, Greenland and Norway, plus a 35 night cruise to Canada.

After that the ship will head to the Black Sea for another month long cruise, followed by another cruise of about the same duration to the Caribbean.

Ida Pfeiffer, the other vessels that CMV bought, will be introduced on the German market under the company’s Transocean Cruises brand next spring.

Color Group raises NOK300 million in notes issue

Details: Written by Kari Reinikainen Kari Reinikainen; Category: More News More News; Published: 23 April 2020 23 April 2020

Color Group, the privately owned parent company of the Norwegian ferry company Color Lone, has raised NOK300 million in a tap issue of notes due 23September 2023.

After this issue, the company has raised NOK1.0 billion in the notes.

“The bonds were priced at 85% of par value. The net proceeds from the bond tap issue will be used for general corporate purposes. Arctic Securities acted as manager in connection with the placement of the bond tap issue,” Color Group said.

Several passenger shipping companies have raised both debt and equity to carry them through the coronavirus outbreak.

Viking Line warns 2020 profit unlikely

Details: Written by Kari Reinikainen Kari Reinikainen; Category: More News More News; Published: 23 April 2020 23 April 2020

Viking Line, the listed Finnish cruise ferry company that should nor be confused with the cruise shipping company Viking, warns that it is unlikely to reach a profit this year.

This marks a change from a previous guidance, when the company had said that it would be too early to estimate the effects of the coronavirus pandemic to the company’s result.

Viking Line reported a net loss of €23.4 million for the first quarter of 2020, a deterioration from a loss of €15.4 million a year earlier, while operating loss deepened to €21.5 million from €14.2 million. Revenues decreased to €75.0 million from €95.8 million.

Four of the seven vessels of the company remain in service, carrying freight. Passengers are only carried between the Aland Islands and the Finnish mainland.

Viking Line held €34.2 million in cash at the end of March, but it needs to strengthen its cash position and talks are ongoing with various parties to achieve this objective, the company said.